Jericho Financial LLP Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Jericho Financial LLP reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,886 shares of the Internet television network's stock after selling 311 shares during the period. Netflix makes up approximately 5.3% of Jericho Financial LLP's investment portfolio, making the stock its biggest position. Jericho Financial LLP's holdings in Netflix were worth $7,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC increased its holdings in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new position in shares of Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new position in Netflix in the 4th quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its position in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director now directly owns 63,040 shares in the company, valued at $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Cletus R. Willems sold 298 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $35,972,180. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,140 shares of company stock valued at $210,271,552 in the last three months. 1.37% of the stock is currently owned by insiders.

Netflix Stock Up 1.8%

NASDAQ NFLX traded up $22.13 during trading hours on Monday, hitting $1,253.54. The company's stock had a trading volume of 2,588,573 shares, compared to its average volume of 3,748,521. The company has a market capitalization of $533.47 billion, a PE ratio of 59.24, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The company's 50-day simple moving average is $1,150.80 and its two-hundred day simple moving average is $1,012.19.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 earnings per share. Research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NFLX shares. Rosenblatt Securities lifted their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a report on Monday, April 21st. UBS Group lifted their target price on Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. BMO Capital Markets reissued an "outperform" rating and issued a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Citigroup restated a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Finally, Robert W. Baird upped their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.